BREAKING: Altech Batteries has just announced a complete board overhaul aimed at rapidly advancing its battery technologies—CERENERGY sodium solid-state batteries and Silumina anodes—into commercial production. This leadership change comes at the request of Altech’s largest shareholder, Altech Advanced Materials AG (AMA), which, alongside the Deutsche Balaton Group, controls approximately 28 percent of the company.
Taking the helm is Daniel Raihani, a well-known figure in the ASX micro-cap scene, who now serves as both managing director and CEO. Raihani’s mandate is clear: transform Altech’s groundbreaking technologies into market-ready solutions. “Altech possesses two genuinely world-class technologies in CERENERGY and Silumina Anodes, and it is imperative that we now take the actions required to ensure these assets reach their full commercial potential,” stated Raihani.
The urgency of this shift is underscored by the company’s plans to secure a substantial €46.7 million (A$82.8 million) grant from Germany’s STARK program for its upcoming 120MWh CERENERGY plant in Saxony. This funding is contingent upon confirming full financing, making swift action essential.
The new board, including non-executive chair Joe Graziano and non-executive director Hansjoerg Plaggemars, is aggressively pursuing strategic partnerships with battery manufacturers, chemical giants, and government programs. This marks a decisive pivot from previous technical achievements to an intense focus on commercial execution.
Raihani’s extensive background includes significant roles in various resource companies, showcasing his ability to deliver results under pressure. His recent successes include leading capital raisings and acquisitions, making his leadership crucial for Altech’s ambitious goals.
The board has also prioritized rationalizing non-core assets to minimize cash burn. This includes a thorough review of the Meckering kaolin deposit and other industrial holdings in Johor, Malaysia, to redirect resources toward their flagship battery initiatives.
With this new leadership in place, Altech is signaling a powerful shift in strategy. The company aims not only to attract funding but also to enhance its operational efficiency, ensuring that every project is evaluated based on its immediate value potential.
As the battery technology landscape evolves, Altech Batteries is poised to make significant strides, and industry watchers will be keen to see how quickly these developments unfold. The new board’s focus on aggressive partnership strategies and funding acquisition will be critical in the coming months, marking a turning point for the company.
Stay tuned for more updates as Altech Batteries embarks on this transformative journey in the energy sector.
